Metalforming industry sees a spark in economy
According to the August 2009 Precision Metalforming Association Business Conditions Report, metalforming companies predict a spike in business conditions during the next three months.
The August report shows that metalformers are feeling more optimistic about general economic activity than they have since February 2004. Of the 137 metalforming companies in the United States and Canada surveyed, 57% anticipate an improvement in overall economic activity, which is up from 37% in July. Another 35% expect that activity will remain unchanged and only 8% report that activity will decline.
A high percentage of metalforming companies also forecast an increase in incoming orders during the next three months. An increase in orders is seen by 62% of respondents, up from 46% in July, while 27% expect no change.
Current average daily shipping levels also increased in August, with 39% reporting an increase over levels three months ago. Another 37% report no change.